Fourth-quarter GAAP net earnings attributable to common shareholders of $104.0 million, or $0.56 per diluted share, compared to a net loss attributable to common shareholders in the fourth quarter of 2012 of $849.0 million, or $4.70 per diluted share

Fourth-quarter non-GAAP net earnings attributable to common shareholders of $89.8 million, or $0.49 per diluted share, compared to non-GAAP net earnings attributable to common shareholders in the fourth quarter of 2012 of $78.1 million, or $0.43 per diluted share

Non-GAAP adjusted EBITDA in the quarter of $293.6 million, or 10.7 percent of net sales, compared to $292.2 million, or 11.0 percent of net sales, in the fourth quarter of 2012

Company realigns into four new operating segments

Company to celebrate 150-year anniversary in October 2014

“We are pleased with the fourth-quarter organic revenue growth of 2.3 percent, driven by strong revenue performance across many of our offerings,” said Thomas J. Quinlan III, R.R. Donnelley’s president and CEO. “For the year, we realized reported revenue growth of 2.5 percent and organic growth of 0.6 percent, our best organic revenue growth performance since 2010, and continued to deliver strong free cash flow, at the upper end of our guidance for the year. The continuing development of our market segment solutions, combined with our recent acquisition of Consolidated Graphics, will allow us to build upon the positive trend realized in 2013. We continue to target gross leverage on a long-term sustainable basis to be in the range of 2.25x to 2.75x.”

Net SalesNet sales in the quarter were $2.8 billion, up $95.7 million, or 3.6 percent, from the fourth quarter of 2012. After adjusting for the impact of acquisitions, changes in foreign exchange rates and pass-through paper sales, organic sales grew by 2.3 percent from the fourth quarter of 2012, driven by volume growth in many offerings and an increase in pass-through postage revenue.

GAAP EarningsFourth-quarter 2013 net earnings attributable to common shareholders were $104.0 million, or $0.56 per diluted share, compared to a net loss attributable to common shareholders of $849.0 million in the fourth quarter of 2012. Fourth-quarter net earnings attributable to common shareholders included pre-tax charges and expenses, detailed on the attached schedules, of $74.5 million and $1.0 billion in 2013 and 2012, respectively, as well as income tax adjustments in both years, all of which were excluded from the presentation of non-GAAP net earnings attributable to common shareholders. Additional details regarding the amount and nature of these and other items are included in the attached schedules.

Non-GAAP net earnings attributable to common shareholders totaled $89.8 million, or $0.49 per diluted share, in the fourth quarter of 2013 compared to $78.1 million, or $0.43 per diluted share, in the fourth quarter of 2012. Fourth-quarter non-GAAP net earnings attributable to common shareholders exclude pre-tax charges and expenses of $74.5 million and $1.0 billion in 2013 and 2012, respectively, as well as income tax adjustments in both years. A reconciliation of net earnings attributable to common shareholders to non-GAAP adjusted EBITDA and non-GAAP net earnings attributable to common shareholders is presented in the attached schedules.

2014 GuidanceThe company provides the following full-year guidance for 2014, which includes eleven months of performance from the acquisition of Consolidated Graphics that closed on January 31, 2014:

New Operating SegmentsDuring the fourth quarter of 2013, the company changed its reportable segments to reflect changes in the management reporting structure of the organization. The revised reporting structure includes four operating segments: Publishing and Retail Services, Variable Print, Strategic Services, and International, as well as unallocated Corporate expenses.

The schedules that follow provide quarterly segment-level financial data for 2011, 2012 and 2013. Listed below are the reporting units that comprise each segment:

About RR DonnelleyRR Donnelley (Nasdaq:RRD) helps organizations communicate more effectively by working to create, manage, produce, distribute and process content on behalf of our customers. The company assists customers in developing and executing multichannel communication strategies that engage audiences, reduce costs, drive revenues and increase compliance. RR Donnelley’s innovative technologies enhance digital and print communications to deliver integrated messages across multiple media to highly targeted audiences at optimal times for clients in virtually every private and public sector. Strategically located operations provide local service and responsiveness while leveraging the economic, geographic and technological advantages of a global organization.